Directorate Change

 

TIDMTXR 
 
RNS Number : 0035N 
Titanium Resources Group Ltd 
03 June 2010 
 

                            Titanium Resources Group 
 
                               Directorate Change 
 
3 June 2010: Titanium Resources Group ("TRG" or "the Company") announces that 
Walter Kansteiner has resigned as Chairman having served for a period of 5 years 
since joining the Company in February 2005 ahead of the IPO on AIM. The decision 
follows completion of a $25million capital raising and final settlement of all 
outstanding insurance claims (relating to the capsize of Dredge D2) which have 
together alleviated uncertainty about the Company's plans to restore production 
growth. 
 
Commenting on the announcement, John Sisay, Chief Executive of TRG, said: 
 
"The Board would like to thank Walter for his significant contribution to the 
Company since he has been Chairman of TRG. Walter's experience and leadership 
has been invaluable in both establishing TRG as a listed company and in 
supporting our ongoing recovery from a challenging operating period." 
 
Walter Kansteiner, said: 
 
"After an enjoyable 5 years, I am leaving TRG at a time when the Company is well 
positioned to enter a new stage in its development following the successful 
fundraising in 2009 and the recent settlement with the Company's insurers. 
TRG's senior management is well placed to now further develop the company's 
significant potential." 
 
The Board has begun the process of recruiting a new Chairman and intends to 
provide an update on progress at the Company's forthcoming AGM on 10 June 2010. 
The forthcoming AGM will be attended by the Company's two Executive Directors 
John Sisay and Jean Lindberg Charles as well as the remaining four Non Executive 
Directors Mr. Rod Baker, Mr. Alex Kamara, Mr Raju Jaddoo and François Colette. 
 
                                      ENDS 
 
For further information: 
 
Titanium Resources Group 
John Sisay, Chief Executive 
Walter Kansteiner, Non-executive Chairman 
Telephone: [phone] 
 
 
Arbuthnot Securities 
Nominated Advisor & Broker 
Richard Johnson 
Telephone: [phone] 
 
Aura Financial 
Michael Oke / Andy Mills 
Telephone: [phone] 
 
Notes to Editors: 
 
Mr. Kansteiner has over twenty years' experience with African and emerging 
market business issues. A founding principal of The Scowcroft Group, he has 
advised corporations on a wide range of mergers, acquisitions and privatisations 
throughout Africa and has been involved with transactions in telecommunications, 
forestry, mining, financial services, healthcare and aviation services. 
Previously, Mr. Kansteiner served three years as Assistant Secretary of State 
for African Affairs. In this capacity, he was responsible for U.S. foreign 
policy in Africa. From 1980 to 1986, Mr. Kansteiner was executive vice president 
of a commodity trading and processing company, which specialised in tropical 
commodities (coffee, cocoa and sugar). In addition to his business experience in 
emerging markets, from 1989 to 1992, Mr. Kansteiner served in the U.S. 
government as the Director of African Affairs on the National Security Council 
staff. He also served as the Africa specialist on the Secretary of State's 
Policy Planning Staff, and with the Department of Defense as a member of the 
strategic minerals task force. He holds graduate degrees in international 
economics and ethics from American University and Virginia Theological Seminary, 
respectively. He is a member of the Council on Foreign Relations, chairs the 
Africa Policy Advisory Panel (a congressionally mandated advisory group) and 
serves on various boards in the U.S. and Africa. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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